Base-catalysed phenolic adhesives are usually prepared in a liquid form, the most common solvent being water. The solubility and dilutability of the product are determined by several factors, the most important being the catalyst used, the phenol to aldehyde molar ratio used, and the amount of catalyst used. But this basic reaction whereby the resin is prepared, although carried out at an elevated temperature, generally 50.degree. to 100.degree. C, never stops, and continues in the solution on storage, albeit at a slow rate. This lack of stability severely limits product usefulness, as dilutability and viscosity are adversely affected by storage. As a consequence, these aqueous systems have to be prepared close to where they are to be used, and ideally are prepared and used at the same rate, with minimal storage times. Also, where some transportation cannot be avoided, since the system contains of the order of 50% water, transportation is costly, particularly in comparison with the known solid resins. Further, the high water content of liquid resins is undesirable in applications where prolonged heat application to effect its removal is required. In addition to the cost, such prolonged heating can adversely affect the material being bonded, with detriment to the properties of the product.